Atle Fund Management AB Increases Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Atle Fund Management AB has increased its holdings in Mirum Pharmaceuticals by 38.4%, bringing its total ownership to 106,912 shares.
• Mirum Pharmaceuticals reported a quarterly revenue of $127.79 million, exceeding analyst expectations by 18.9% and showing a 64.1% increase compared to the same quarter last year.
• The stock price of Mirum Pharmaceuticals is currently down 1.2% and has a market cap of $3.74 billion, with analysts rating it as a "Buy" with a consensus target price of $74.44.

Atle Fund Management AB lifted its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 38.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,912 shares of the company's stock after acquiring an additional 29,649 shares during the period. Mirum Pharmaceuticals accounts for about 2.3% of Atle Fund Management AB's portfolio, making the stock its 16th biggest holding. Atle Fund Management AB owned approximately 0.22% of Mirum Pharmaceuticals worth $5,441,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Frazier Life Sciences Management L.P. boosted its stake in shares of Mirum Pharmaceuticals by 3.4% in the first quarter. Frazier Life Sciences Management L.P. now owns 6,795,121 shares of the company's stock worth $306,120,000 after acquiring an additional 224,729 shares during the period. Vanguard Group Inc. lifted its position in shares of Mirum Pharmaceuticals by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock worth $114,430,000 after buying an additional 115,327 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Mirum Pharmaceuticals in the first quarter worth about $29,495,000. Woodline Partners LP lifted its position in shares of Mirum Pharmaceuticals by 40.0% in the first quarter. Woodline Partners LP now owns 566,271 shares of the company's stock worth $25,511,000 after buying an additional 161,867 shares in the last quarter. Finally, Penn Capital Management Company LLC lifted its position in shares of Mirum Pharmaceuticals by 34.2% in the first quarter. Penn Capital Management Company LLC now owns 373,519 shares of the company's stock worth $16,870,000 after buying an additional 95,092 shares in the last quarter.

Mirum Pharmaceuticals Stock Performance

MIRM traded down $0.45 on Monday, reaching $73.93. 1,136,272 shares of the stock were exchanged, compared to its average volume of 533,620. The company's 50-day moving average price is $64.41 and its 200 day moving average price is $51.93. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $36.88 and a fifty-two week high of $78.10. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. The firm has a market capitalization of $3.71 billion, a PE ratio of -61.10 and a beta of 0.92.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.19. The company had revenue of $127.79 million during the quarter, compared to analysts' expectations of $107.91 million. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The firm's revenue was up 64.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.52) EPS. As a group, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the transaction, the senior vice president owned 2,426 shares in the company, valued at approximately $140,708. This trade represents a 80.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $62.00, for a total value of $2,480,000.00. Following the completion of the transaction, the chief executive officer owned 138,641 shares of the company's stock, valued at approximately $8,595,742. This represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,619 shares of company stock worth $7,313,448. Corporate insiders own 14.36% of the company's stock.

Wall Street Analyst Weigh In

MIRM has been the topic of a number of research analyst reports. Stifel Nicolaus set a $89.00 target price on Mirum Pharmaceuticals and gave the stock a "buy" rating in a research report on Monday, August 11th. Evercore ISI increased their price target on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday, August 25th. Finally, HC Wainwright increased their target price on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $74.44.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.